Open Account Terms Funding

Open Account Terms facilities are tailored to meet the needs
of each individual business and provide 100% credit insurance in
respect of approved debtors. Importers trade on Open Account
Terms, removing the need for you to open Letters of Credits
which impact on valuable cash flow.

In a typical Open Account Terms transaction, the buyer sends a
purchase order to the seller, who then produces and ships the
ordered goods. Upon shipment, the seller sends an invoice and
shipping documents to the buyer so that the goods can clear
customs. Once the goods arrive and are inspected, the buyer pays
for them according to prearranged terms, usually in 30 to 90
days. The importer pay the seller by international wire
transfer.

Key Features:
The goods, along with all the necessary documents, are shipped
directly to the importer who agrees to pay the exporter’s
invoice at a future date, usually in 30 to 90 days.
Exporter can be absolutely confident that the importer will
accept shipment and pay at agreed time based on the 100% Credit
Insurance of the receivables.
Open Account Terms help win customers in competitive markets.
Open Account Terms Services for Importers include full
multi-currency sales ledger administration and a comprehensive
collections service, including legal services.